Africa Mining: South Africa just hiked black ownership rules, miners getting crushed

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Africa Mining: New $264m Zimbabwe platinum mine to last 34 years


Platinum samples

A new platinum mine in Zimbabwe will triple the reserves of Zimplats (ASX:ZIM), the country’s largest platinum miner, and allow the company to replace production from the Rukodzi and Ngwarati mines once they become depleted. Continue reading

Africa Mining: South African union reaches tentative wage deals with platinum trio

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Africa Mining: “SA mining industry continues to face tough times” — PwC report


Last year reflected the worst free cash flow position since the financial crisis in 2008.

Companies had no choice but to cut back on new developments, re-focus on profitable production rather than maximum production and to save costs. Continue reading

Africa Mining: New tax burden for Zimbabwe miners

Mines and Mining Development Minister, Walter Chidakwa

Mines and Mining Development Minister, Walter Chidakwa

Zimbabwean miners are to be taxed a new levy to fund exploration activities as the government transforms the Minerals Marketing Corporation of Zimbabwe into a state exploration company. This comes in the wake of declining exploratory work by mining firms at a time when miners globally are facing market uncertainties. Continue reading

Africa Mining: Rio Tinto’ reports 42% fall in diamond production at Murowa mine

Rio Tinto Murowa Mine in Zimbabwe

Rio Tinto Murowa Mine in Zimbabwe

Rio Tinto said production at its Murowa diamond mine in Zimbabwe fell 42% in the first quarter after a planned shutdown and a decision to cut output as it sought clarity on a new export tax. Zimbabwe’s government in January introduced a 15% export tax on unrefined platinum and there was confusion on whether the levy also applied to diamonds. Continue reading